The Conference Board’s consumer confidence index increased in September following a large improvement in August. The index rose to a reading of 138.4 (1985=100), up from 134.7 in August. This is close to an 18-year high and not far from the all-time high of 144.7 reached in 2000.

“Consumers’ assessment of current conditions remains extremely favorable, bolstered by a strong economy and robust job growth,” said Lynn Franco, director of economic indicators at The Conference Board. “The Expectations Index surged in September, suggesting solid economic growth exceeding 3.0% for the remainder of the year. These historically high confidence levels should continue to support healthy consumer spending, and should be welcome news for retailers as they begin gearing up for the holiday season.”   

Consumers’ assessment of the labor market was somewhat more favorable and their outlook for the labor market was also more upbeat. The proportion expecting more jobs in the months ahead rose to 22.5% in September from 21.5% in August, while those anticipating fewer jobs fell to 11.0% from 13.2%.

The number of consumers stating that jobs were “plentiful” rose to 45.7% in September from 42.3% in August, but those claiming jobs are “hard to get” rose to 13.2% from 12.1%.